Investment Activities - CPPIB is investing up to US$162 million in SC Capital, which has been a global institutional investor since 2022 [1] - CPPIB will also invest up to US$1.05 billion in a US$10.1 billion transaction for an indirect non-controlling interest in Castrol, expected to close by the end of 2026 [3] - Kelso & Co. has acquired a 25% stake in Wellington-Altus Financial Inc. for nearly US$400 million, with over 99% shareholder support [4] - Portage has closed a deal with Point72 Ventures to manage select fintech assets, moving them into a US$280 million continuation vehicle [8] Market Insights - Japan is highlighted as a key hospitality market due to strong inbound tourism and domestic demand, with SC Capital managing approximately US$9 billion in assets, 75% of which are in Japan [2] - The Canadian accredited investor market is projected to double between 2024 and 2029, prompting Maples Group to launch a fund administrative service for alternative investment funds [7] Real Estate Developments - BGO has entered the North American student housing market by acquiring a two-tower residential complex in Edmonton, which includes 272 residential units and 493 student beds [6]

Core Insights - The transition from public markets to private capital revealed significant challenges in fund administration, particularly the reliance on fragmented and manually compiled data, which contrasts sharply with the real-time data access in hedge funds [1] - The rise of private markets and advancements in AI present an opportunity for innovation in fund administration software, aimed at improving efficiency for various investment firms [2][3] Group 1: Market Opportunity - The private investment sector is experiencing rapid growth, driven by private credit and high-value companies, creating a demand for improved fund administration solutions [3] - Existing fund administration options are largely unsatisfactory, leading many firms to resort to shadow fund administration practices, indicating a gap in the market for better solutions [4] Group 2: Product Development - The new software, named Formulary, aims to bridge the gap between high-touch accounting services and software solutions by leveraging AI to enhance efficiency and accuracy in fund administration [5] - The concept of "bionic accountants" is introduced, where in-house accountants utilize advanced software to manage data without the burdens of manual entry, addressing long-standing inefficiencies in the industry [5] Group 3: Funding and Support - Formulary has successfully secured a $4.6 million seed round led by Khosla Ventures, which was three times oversubscribed, indicating strong investor interest and confidence in the product [2]

Core Insights - SS&C Technologies has completed the acquisition of Curo Fund Services, enhancing its presence in South Africa [1][2] - Curo Fund Services administers over R 3 trillion (approximately USD 170.4 billion) in assets, serving major clients like Sanlam and Old Mutual [2][5] - The acquisition will allow SS&C to provide South African clients with advanced automation, data, and operational expertise [2][4] Company Overview - Curo Fund Services is a prominent fund administrator in South Africa, offering comprehensive fund accounting, investor administration, and regulatory reporting services [5] - SS&C Technologies is a global provider of services and software for financial services and healthcare industries, with over 23,000 clients worldwide [6] Strategic Implications - The merger is expected to expand Curo's fund administration offerings and accelerate growth across South Africa and the African continent [2][4] - SS&C's global scale and expertise will enhance service delivery and client solutions, ensuring a seamless transition for existing clients [3][4]

Core Insights - Diginex Limited and Allocations Inc have formed a strategic partnership to integrate advanced ESG data solutions into the Allocations platform, enhancing investment strategies for fund managers and advisers [1][3][4] Company Overview - Diginex Limited is a leading provider of Sustainability RegTech solutions, utilizing blockchain, AI, and data analysis to improve transparency in corporate regulatory reporting and sustainable finance [5][6] - Allocations Inc is a fund administration platform managing over $2 billion across 1,600 investment vehicles, simplifying the establishment of Special Purpose Vehicles (SPVs) and private funds for over 30,000 investors [2][7] Partnership Details - The collaboration will provide Allocations' clients with ESG data collection tools, tailored frameworks, and third-party verification services, aligning investment portfolios with sustainable principles [3][4] - This partnership aims to make ESG integration more accessible for alternative investment professionals, combining Diginex's technology with Allocations' fund administration services [4]